Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar

Forex Shortages Blamed After Nigerian Currency Hits New Low Versus the US Dollar

A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a report has said. One Nigerian currency dealer said he expects the naira to further depreciate to 750 per […]

S&P Global Report Says EU and UK Are in a Recession, Putin Thinks the West Is Greedy

S&P Global Report Says EU and UK Are in a Recession, Putin Thinks the West Is Greedy

Today’s blustery global economy has everyone on edge as inflation has wreaked havoc on the wallets of ordinary people and energy prices continue to soar worldwide. According to Credit Suisse, “the worst is yet to come,” as the global investment bank’s analysts believe the European Union (EU) and the U.K. are already dealing with a […]

Robert Kiyosaki Predicts US Dollar Will Crash by January — Suggests Buying Bitcoin

Robert Kiyosaki Predicts US Dollar Will Crash by January — Suggests Buying Bitcoin

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has predicted that the U.S. dollar will crash by January next year after the Federal Reserve pivots. He named bitcoin as one of the investments to buy as the Fed continues to raise interest rates. Robert Kiyosaki Predicts Imminent Crash of US […]

Germany’s Inflation Hits Double Digits for the First Time Since WWII, Parliament Reveals 5B Subsidies Package to ‘Make Prices Drop’

Germany’s Inflation Hits Double Digits for the First Time Since WWII, Parliament Reveals $195B Subsidies Package to ‘Make Prices Drop’

Following the Covid-19 pandemic, the massive amount of stimulus, and amid the Ukraine-Russia war, Germany’s inflation has soared. Official data from Germany’s consumer price index (CPI) indicates that inflation jumped to a 10.9% annual pace in September and it’s the first time since the end of World War II that Germany has dealt with double-digit […]

Billionaire Stan Druckenmiller Discusses Cryptocurrency Having ‘Big Role in a Renaissance’ — ‘People Aren’t Going to Trust Central Banks’

Billionaire Stan Druckenmiller Discusses Cryptocurrency Having ‘Big Role in a Renaissance’ — ‘People Aren’t Going to Trust Central Banks’

Renowned billionaire hedge fund manager Stanley Druckenmiller says he could see cryptocurrency “having a big role in a Renaissance because people just aren’t going to trust the central banks.” He added that he will be “stunned” if the U.S. isn’t in a recession next year. Stanley Druckenmiller: People Just Aren’t Going to Trust Central Banks […]

Citadel CEO Ken Griffin Says Inflation May Have Peaked — Warns a Recession Is Coming

Citadel CEO Ken Griffin Says Inflation May Have Peaked — Warns a Recession Is Coming

Citadel CEO Ken Griffin says inflation may have peaked but a recession is coming. “We’re in a very uncertain time for investors,” the executive cautioned, adding that the Federal Reserve “is grappling with a level of inflation we haven’t seen in a long time.” Citadel’s Ken Griffin on U.S. Economy, Inflation, Recession, and Cryptocurrency Kenneth […]

Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar

Hong Kong Protects Local Currency in Forex Market Amid Capital Flight to US Dollar

Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week, the Hong Kong Monetary Authority (HKMA) revealed it intervened in forex markets on Wednesday. Hong Kong’s central bank detailed that it interfered in forex markets […]

Bank of England Suspends Tightening Policy as Pound Nosedives — Central Bank to Start Purchasing Long-Dated UK Government Bonds

Bank of England Suspends Tightening Policy as Pound Nosedives — Central Bank to Start Purchasing Long-Dated UK Government Bonds

Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets. U.K. government bond yields have been erratic and the pound sterling also dropped to a lifetime low against the greenback. On Wednesday, […]

Nicolas Maduro Tempts West With an Abundance of Oil and Gas, Venezuelan President Wants Sanctions Lifted

Nicolas Maduro Tempts West With an Abundance of Oil and Gas, Venezuelan President Wants Sanctions Lifted

Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Venezuela has the largest supply of crude oil in the world, U.S. economic sanctions imposed in 2019 by the Trump administration […]